The Singapore Tourism Board has uncovered that the initial six months of the year saw worldwide guest numbers to the Asian city-state increment by 10.3% year-on-year to 11.3 million. Said Mr Chiam: “In the past, we had the high rollers and big spenders who bought luxury goods. Now, it’s more of the budget-conscious people who like to travel, but they are, perhaps, cautious about spending, given the economic forecast.”
The tourism promoter proclaimed that the ascent was driven by “great development rates from some top source markets” including China, Indonesia and India while add up to guest receipts for the period swelled by 12% year-on-year to hit $8.23 billion. “The growth in tourism receipts was mostly volume-driven due to a strong growth of visitor arrivals,” read a statement from the Singapore Tourism Board. “Another main contributing factor to the tourism receipt growth was the increased spending on shopping, accommodation and food and beverage components.”
The Singapore Tourism Board expressed that the ascent in receipts balance a 17% fall year-on-year in profit from its touring, entertainment and gaming vertical to $1.56 billion, which it portrayed as an indication of a bigger decrease in general gaming revenues from the Marina Bay Sands and Resorts World Sentosa coordinated casino resort improvements. “We observed that there has also been a shift in our visitors’ profile and in their spending patterns for some of our top source markets,” read the statement from the Singapore Tourism Board. “Increasingly, we are seeing more visitors with higher propensity to spend from major cities in markets such as India, Australia and Indonesia spending more on fashion accessories, wellness products, souvenirs, gifts and confectionery.”
Singapore Tourism Board demonstrated that guest numbers from territory China over the initial six months of 2016 rose by 55% year-on-year while the numbers from India and Indonesia in addition went up in spite of the fact that those meeting Singapore from Malaysia and Hong Kong declined. “This was driven by good growth rates from some top source markets such as China and India,” said Singapore Tourism Board (STB) yesterday.
